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Studio · 627 sqftParamount Tower Hotel & Residences Downtown, Business Bay · 18th floor · completed 2022

1823, Paramount Tower Hotel & Residences Downtown

Sold prices and rental history: sold once, by the developer in February 2023, and no registered rental contract. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 1823 · DLD and Ejari recordsUpdated 27 February 2023
Last soldAED 1.56M27 February 2023
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 1823, Paramount Tower Hotel & Residences Downtown

What is 1823 worth today?

Last sold for AED 1,562,000 in 2023

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27 Feb 2023Sold by developerReady
AED 1,562,000AED 2,490 per sqft

Source: Dubai Land Department. Updated 27 February 2023.

Key facts

Type
Studio hotel apartment
Size
627 sqft
Floor
18th of 63
Parking
EU
Developer
Namaa Properties Development
Completed
2022
Service charge
AED 12,500 /yr
Last sold
AED 1.56M · February 2023
Building
Paramount Tower Hotel & Residences Downtown

About 1823, Paramount Tower Hotel & Residences Downtown

1823 is a studio of 627 sqft on the 18th floor of Paramount Tower Hotel & Residences Downtown, a 63-storey tower in Business Bay completed in 2022 by Namaa Properties Development. The developer sold it on 27 February 2023 for AED 1,562,000, or AED 2,490 per sqft, in line with the AED 2,485 studios in the building were fetching at the time.

No rental contract for the unit is registered on Ejari.

Sales and rents for 1823 over time

Sales
Unit 1823, each saleTypical studio in Paramount Tower Hotel & Residences Downtown
1M1.5M2016201920222025Typical sale price by year: 2016 AED 1,200,000; 2017 AED 1,200,000; 2019 AED 1,179,500; 2020 AED 1,199,000; 2021 AED 1,100,000; 2022 AED 1,146,000; 2023 AED 1,295,000; 2024 AED 1,095,000; 2025 AED 936,139; 2026 AED 830,484Sold by developer, February 2023: AED 1,562,000 (AED 2,490 per sqft)

1823 has sold once; the dashed line is the studio median of each year in the building.

Rents
Unit 1823, each contractTypical studio in Paramount Tower Hotel & Residences Downtown
60K80K202220242026Typical rent by year: 2022 AED 55,000; 2023 AED 70,000; 2024 AED 84,000; 2025 AED 80,000; 2026 AED 70,000

Annual rent on each registered contract; the dashed line is the studio median of each year in the building.

Studios in Paramount Tower Hotel & Residences Downtown, and where 1823 sits

All 203 studios →

1823 last sold in February 2023 at AED 2,490 per sqft, in line with what studios in Paramount Tower Hotel & Residences Downtown were fetching at the time (AED 2,485). Over the last 12 months studios sold for AED 630,000 to 1,295,000, around AED 1,579 per sqft, and rent for AED 65,000 to 90,000 a year.

Recent studio salesUnit no.Price (AED)Summary
3 Jul 2026777,215
22 May 2026960,367
22 May 2026830,484
24 Feb 20261,295,000
7 studio sales in the last 12 months

Paramount Tower Hotel & Residences Downtown

Building

784 apartments, studios to 3-bed over 63 floors in Business Bay, completed in 2022 by Namaa Properties Development. 33 sold in the last 12 months.

Typical price per sqft
AED 2,005 Up 3.3%
Typical sale
AED 2.35M
Typical rent
AED 151K /yr
Typical yield
6.6%
Paramount Tower Hotel & Residences Downtown, Business Bay: prices, sales and rents →

Other units on the 18th floor

All 784 units in Paramount Tower Hotel & Residences Downtown
Value
18011-bedAED 1.36M · Sep 2022
18021-bedAED 2.04M · Aug 2022
18031-bedAED 1.5M · Feb 2023
1804StudioAED 1.3M · Jul 2022
1805StudioAED 1.3M · Aug 2022
1806StudioAED 805K · Jul 2022
1807StudioAED 836K · May 2025
1–7 of 25

1823, Paramount Tower Hotel & Residences Downtown in numbers

  • Sold once: by Namaa Properties Development on 27 February 2023 for AED 1,562,000, or AED 2,490 per sqft.
  • Studios in Paramount Tower Hotel & Residences Downtown sold for AED 630,000–1,295,000 in the 12 months to November 2026; the building's median across all types is AED 2,005 per sqft.

Source: Dubai Land Department. Updated 27 February 2023.

Questions about 1823, Paramount Tower Hotel & Residences Downtown

What did unit 1823 last sell for?

AED 1,562,000 on 27 February 2023, sold by the developer: AED 2,490 per sqft for 627 sqft. It is the only registered sale of the unit.

How big is unit 1823?

627 sqft (58.3 sqm): a studio on the 18th floor of a 63-storey tower completed in 2022.

What is unit 1823 worth today?

The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. Studios in Paramount Tower Hotel & Residences Downtown sold for AED 630,000 to 1,295,000 in the last 12 months, around AED 1,579 per sqft.

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Mortgage on 1823, Paramount Tower Hotel & Residences Downtown

Starts from the last sale price (AED 1.56M, 27 February 2023). Switch to today's estimate once you have unlocked it.
Price
AED 1,562,000
Deposit, UAE resident (20%)
AED 312,400
Deposit, non-resident (40%)
AED 624,800
Monthly over 25 years at 3.7%
AED 6,391

Plus the 4% Dubai Land Department transfer fee and about AED 5,000 of registration and trustee costs. Full mortgage calculator →